Collin -  Introduce Community Exchange Network

South African birth – now a global platform

Actually is a system for Tracking IOUs, a LET System for tracking mutual services, a Demand system, a zero-sum game.

The system is based on reputation, trust.

Mutual credit clearing is an entirely new model – not based on scarcity.

Mike: But money is not, in fact, scarce.

Collin: Right. Banks create scarcity because debt in the system (with interest) creates scarcity. In this system with no interest, repayment can be in services.

Kate: How is it used in practice?

A: Daily transactions can be indirect exchanges. Citywide or neighborhood – either base.

Bob: Is other money required – e.g., dollars – to make it work?

A: Yes, Aggregate.

Bob: Could the present system be transformed with dollars [and avoid using alternate currency]?

A: That has been tried. Our system would eliminate the people who make money off

debt. In this system the government can’t create inflation.

    I suggest we read Thomas Grecco’s The End of Money, Future of Civilization. This won’t solve all issues, but many.

Kate: two questions:

1.     How is true value of a contribution determined?

2.     How is trust established in a large community like Portland?

A: Now in PDX the Green Kurrant is tied to the dollar 1:1. Letting it go is under

discussion.

Collin: What ecological system is needed to support and benefit from CEN?

Could form a group.

Bob: Question of keeping up with changes in the dollar’s value.

Michael: [Long answer about] Long Term Hedging.

John: Tying the Kurrant to the dollar – what’s the difference?

A: the model.

John: Functionally – how does it add value?

A: It’s really an educational piece [at this point] – helping people understand money.

Michael: Stop thinking about it like money and start thinking of it as expenditure of

energy. The system as a whole zeroes itself out as a flow of energy. Payback creates work and value in the local community.

Also CEN is proposing a non-profit fundraising model – selling Green Kurrants for

 dollars – and association with the Center for the Development of Social Finance..

Q: Where can it be used now?

A: Consumer to consumer only. We are approaching Saturday Market and New Seasons. Collin will be the administrator and keep accounts honest.